Mobile advertising and discovery platform INMOBI has said an average of 7% of the sales of leading e-commerce firms in India is today being driven by its product disco-very and re-marketing platform Miip.On average, consumers buy products worth Rs 1,500-Rs 2,500 through the platform, translating to an average return of $8-$10 worth of transactions for every dollar spent by an advertiser, InMobi said in a statement. For every dollar that Myntra spends on the platform, it gets $7 in return. “That’s an excellent return on ad spend because the standard expectation is… $3.5 in return,” said Naveen Tewari (CEO of inmobi) in a statement.
Myntra CEO Ananth Narayanan described Miip as an “ingenious platform which can grow mobile-commerce rapidly in India.” Between February, when Myntra adopted the Miip platform, and April, the number of transactions on Myntra happening through Miip has increased 300% month-on-month. Total number of transactions a day through Miip has crossed 1,000, and average order value is $25.